HomeMy WebLinkAbout06. 190507 Revenue Updates1
TOWN OF VAIL
REVENUE UPDATE
May 7, 2019
Sales Tax
Upon receipt of all sales tax returns, March collections are estimated to be
$4,232,110 up 1.54% from last year and up 0.83% compared to budget. Year to
date collections of $12,376,400 are up 6.84% from prior year and up 3.75% from
budget. Inflation as measured by the consumer price index was up 1.9% for
February. The annual budget totals $27.1 million.
Real Estate Transfer Tax (RETT)
RETT collections through March 26 total $2,030,190 flat from this time last year.
The annual 2019 RETT budget totals $6,300,000.
Construction Use Tax
Use Tax collections through March 26 total $576,636 compared to $620,094 from
this time last year. The annual budget totals $2,220,000.
Parking Revenue
Season to date:
Pass sales from November through April total $1,679,900 up $438,306 or 35.3%
from prior winter season. The majority of the increase in pass sales was largely
due to purchases by local businesses and increased interest in value passes.
Daily sales from the parking structures from November through April total
$4,796,249, up $1,072,422, or 28.8% from the prior winter season as a result of
the heavy snow fall compared to a lack luster season in the prior year.